Prime News, National (Mumbai), Nov 6:- After the Central government reduced the excise duty on petrol and diesel, Nationalist Congress Party (NCP) chief Sharad Pawar on Friday demanded the release of GST compensation to the states for them to reduce value-added tax (VAT) on fuel. His remarks come days after the Central government reduced the excise duty on petrol and diesel.
In a statement, Sharad Pawar said, “If the Centre disburses the GST compensation to all the states, then it is possible for the state governments to reduce the VAT on petrol and diesel and implement other welfare schemes.”
On Wednesday, the Ministry of Finance had announced cuts in excise duty on petrol and diesel prices by Rs 5 and Rs 10 per litre respectively. As fuel prices touched record highs, this is the first cut in central excise duties in over three years.
Several BJP-ruled states have announced additional cuts after the Centre’s Wednesday announcement. These include Karnataka, Puducherry, Mizoram, Arunachal Pradesh, Manipur, Nagaland, Tripura, Assam, Sikkim, Bihar, Odisha, Madhya Pradesh, Goa, Gujarat, Dadra & Nagar Haveli, Daman & Diu, Chandigarh, Haryana, Himachal Pradesh, Jammu & Kashmir, Uttarakhand, Uttar Pradesh and Ladakh. (MR, Inputs: Agencies).